Asia Pacific markets set to slip amid US-China trade uncertainty; Hong Kong closed for holiday

Asia Pacific markets set to slip amid US-China trade uncertainty; Hong Kong closed for holiday

Stocks in Asia Pacific were poised to start the trading week lower on Monday amid uncertainty on the U.S.-China trade front, after tariffs on Chinese goods were raised last Friday. Futures pointed to a lower open for the Nikkei 225 in Japan. The Nikkei futures contract in Chicago was at 21,255, as compared to the benchmark index’s last close at 21,344.92. Stocks in Australia were also set to decline. The SPI futures contract was at…

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Mainland Chinese shares decline amid US-China trade uncertainty

Mainland Chinese shares decline amid US-China trade uncertainty

Mainland Chinese shares declined in early trade on Monday amid uncertainty on the U.S.-China trade front, after tariffs on Chinese goods were raised last Friday. The Shanghai composite tumbled more than 1% and the Shenzhen component fell 0.94%, while the Shenzhen composite slipped 0.802%. They had soared last Friday despite the U.S. raising tariffs from 10% to 25% on $200 billion worth of Chinese goods. The Nikkei 225 in Japan declined 0.56% in morning trade, with shares…

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Mainland Chinese shares slip amid US-China trade uncertainty

Mainland Chinese shares slip amid US-China trade uncertainty

Mainland Chinese shares declined on Monday amid uncertainty on the U.S.-China trade front, after tariffs on Chinese goods were raised last Friday. The Shanghai composite tumbled 1.21% to close at 2,903.71 and the Shenzhen component fell 1.43% to finish its trading day at 9,103.36. The Shenzhen composite slipped 1.076% to close at 1,551.75. They had soared last Friday despite the U.S. raising tariffs from 10% to 25% on $200 billion worth of Chinese goods. Other…

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Dow futures point to more than 150-point decline at Monday’s open

Dow futures point to more than 150-point decline at Monday’s open

Traders work on the floor of the New York Stock Exchange (NYSE) in New York. Brendan McDermid | Reuters American stock indexes are set for a rough start to Monday, futures contracts showed. Dow futures were down nearly 200 points as of 7:11 p.m. ET, implying a decline of more than 150 points for the index at its Monday open. S&P 500, Nasdaq, and Russell futures were similarly pointing to a negative start for their…

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Dow futures point to more than 200-point decline at Monday’s open

Dow futures point to more than 200-point decline at Monday’s open

Traders work on the floor of the New York Stock Exchange (NYSE) in New York. Brendan McDermid | Reuters American stock indexes are set for a rough start to Monday, futures contracts showed. Dow futures were down more than 250 points as of 10:37 p.m. ET Sunday, implying a decline of more than 200 points for the index at its Monday open. S&P 500, Nasdaq, and Russell futures were similarly pointing to a negative start…

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Don’t fear a 10% correction — embrace it, market bull Jack Ablin says

Don’t fear a 10% correction — embrace it, market bull Jack Ablin says

Even if the May pullback lingers until summer, Cresset Capital’s Jack Ablin plans to embrace it. He believes market and economic fundamentals are intact, and a U.S.-China trade deal isn’t essential to keeping the bull market alive. Ablin cites liquidity —the ability and desire to borrow, spend and invest money — as a critical driver for more record upside. “As long as lenders continue to want to extend credit and spreads are low and lending…

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The cost of Trump’s tariffs has fallen ‘entirely’ on US businesses and households: Goldman

The cost of Trump’s tariffs has fallen ‘entirely’ on US businesses and households: Goldman

President Donald Trump waves during joint statements with China’s President Xi Jinping at the Great Hall of the People in Beijing, China, November 9, 2017. Thomas Peter | Reuters Goldman Sachs said the cost of tariffs imposed by President Donald Trump last year against Chinese goods has fallen “entirely” on American businesses and households, with a greater impact on consumer prices than previously expected. The bank said in a note that consumer prices are higher…

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How Trump’s trade war threatens China’s ambition to lead the world in technology

How Trump’s trade war threatens China’s ambition to lead the world in technology

China’s intensified tariff war with the Trump administration is threatening Beijing’s ambition to transform itself into the dominant player in global technology. The United States is a vital customer and source of technology for Chinese makers of electronics, medical equipment and other high-tech exports — industries that the ruling Communist Party sees as the heart of its economic future. Yet to the Trump administration, they’re a threat to America’s industrial leadership. Beijing managed to keep…

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Kudlow says US will pay for China tariffs, contradicting Trump

Kudlow says US will pay for China tariffs, contradicting Trump

Larry Kudlow, Director of the United States National Economic Council. Adam Jeffery | CNBC White House economic adviser Larry Kudlow on Sunday acknowledged that the Chinese do not directly pay tariffs on goods coming into the U.S., contradicting President Donald Trump’s claims that China will pay tariffs imposed by the U.S. Kudlow acknowledged that “both sides will suffer on this,” but argued that China will suffer significant GDP losses as export markets are hit. The…

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Kudlow acknowledges US will pay for China tariffs, contradicting Trump

Kudlow acknowledges US will pay for China tariffs, contradicting Trump

Larry Kudlow, Director of the United States National Economic Council. Adam Jeffery | CNBC White House economic adviser Larry Kudlow on Sunday acknowledged that the Chinese do not directly pay tariffs on goods coming into the U.S., contradicting President Donald Trump‘s claims that China will pay for tariffs imposed by the U.S. Kudlow said that “both sides will suffer on this,” but argued that China will suffer significant GDP losses as export markets are hit….

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